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Khaitan acts for Lakshmi Vilas Bank on merger into Indiabulls

The Competition Commission of India (CCI) has approved the merger of Indiabulls Housing Finance Limited (IBHFL) and Indiabulls Commercial Credit Limited (ICCL) with Lakshmi Vilas Bank Limited (LVB).
Business Standard

The board of Lakshmi Vilas Bank [in April] approved the merger of the private sector lender with Indiabulls Housing Finance (IBH) through a share swap deal. The merger will help Indiabulls get access to low-cost stable funds and an entry into banking. The company, the nation’s second largest housing finance firm, had unsuccessfully applied for a banking licence in 2013.
Hindu Business Line

Khaitan & Co advised The Lakshmi Vilas Bank Limited led by a team of executive director Sudhir Bassi, partner Gautham Srinivas, partner Mehul Shah, partner Aditya Patni, principal associate Sanket Shah, senior associate Kevin Peter, senior associate Aman Yagnik, associate Anubhuti Sinha, associate Saurav Bhaumik and associate Rushabh Gala with assistance from counsel Vaibhav Mittal and associate Adrika Dhawan.


This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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